DETROIT, Oct. 3, 2017 /PRNewswire/ -- General Motors (NYSE: GM) today reported a 12 percent year-over-year increase in total sales in September to 279,397 units, driven by a 17 percent increase at Chevrolet and an 9 percent increase at GMC.
- Crossover deliveries were up 43 percent, trucks were up 10 percent and passenger cars were down 11 percent.
- Retail deliveries, which accounted for about 80 percent of sales, were up 8 percent for GM's best September retail performance since 2007. GM's U.S. retail share is estimated to be up 0.6 percentage points.
- Commercial and Government deliveries were up 25 percent and 38 percent, respectively. GM has gained U.S. Commercial market share for 14 consecutive months.
"Our new crossovers from Chevrolet, Buick, GMC and Cadillac have been very well-received and Chevrolet had an outstanding month with the Silverado and Colorado," said Kurt McNeil, U.S. vice president of Sales Operations. "We are entering the fourth quarter with strong momentum, great products and a healthy economy."
GM Chief Economist Mustafa Mohatarem said all the key U.S. economic indicators point toward continued economic growth and stability. In addition, regions devastated by the recent hurricanes will continue to recover, helping spur new and used vehicle sales.
"The overall strength of the U.S. economy is the main force driving the market," he said. "With the U.S. economy strengthening, retail sales should remain strong for the foreseeable future."
September Retail Highlights (vs. September 2016 unless noted)
- Best September since 2004.
- Silverado was up 14 percent.
- Equinox and Traverse, Chevrolet's newest crossovers, were up 69 percent and 104 percent, respectively, the best September ever for Equinox and the best month ever for Traverse.
- Bolt EV had its best month ever with 2,505 retail deliveries and 2,632 total deliveries.
- Best month ever for Chevrolet electrified vehicles (Bolt EV and Volt), with 3,929 retail deliveries.
- Trax was up 8 percent for its best September ever.
- Impala was up 7 percent.
- Enclave, Encore and Envision were up 41 percent, 12 percent and 44 percent, respectively.
- Encore had its best month ever.
- Highest ever SUV/crossover mix at 87 percent.
- LaCrosse ATP up 10 percent year to date.
- Buick maintained its retail focus with more than a 50 percent reduction in fleet deliveries year to date.
- Terrain was up 66 percent for its best September ever.
- Overall Denali penetration was 33 percent, the highest monthly rate ever.
- Denali penetration on Sierra reached 38 percent in September.
- Year-to-date ATP is highest in GMC history at $43,210.
- Sierra had the highest ATP in its segment for 12th straight month.
- XT5 was up 36 percent.
- Combined XT5 and SRX deliveries were up 12 percent year to date.
- Year-to-date ATP was up $260 to $53,748, higher than many German luxury brands
- U.S. inventory levels are down about 160,000 vehicles in the third quarter.
- The company's inventory target is unchanged, which is to end the year with stocks at or below last year's level of about 850,000 vehicles, with fewer cars and more trucks, crossovers and utilities in the mix.
- According to JD Power PIN estimates, GM's September incentive spending as a percent of ATP was 14.6 percent, which reflects special programs that support disaster relief. Year to date, GM's incentive spend is below its domestic and many Asian competitors.
- Year to date, GM has the lowest daily rental mix of any full-line automaker at 8.7 percent of total sales. GM remains committed to decrease daily rental sales by 50,000 units in 2017.
General Motors Co. (NYSE:GM, TSX: GMM) has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com
This press release and related comments by management may include forward-looking statements. These statements are based on current expectations about possible future events and thus are inherently uncertain. Our actual results may differ materially from forward-looking statements due to a variety of factors, including: (1) our ability to deliver new products, services and experiences that attract new, and are desired by existing, customers and to effectively compete in autonomous, ride-sharing and transportation as a service; (2) sales of full-size pick-up trucks and SUVs, which may be affected by increases in the price of oil; (3) the volatility of global sales and operations; (4) aggressive competition, including the impact of new market entrants; (5) changes in, or the introduction of novel interpretations of, laws, regulations or policies particularly those relating to free trade agreements, tax rates and vehicle safety and any government actions that may affect the production, licensing, distribution, pricing, or selling of our products; (6) our joint ventures, which we cannot operate solely for our benefit and over which we may have limited control; (7) compliance with laws and regulations applicable to our industry, including those regarding fuel economy and emissions; (8) costs and risks associated with litigation and government investigations; (9) compliance with the terms of the Deferred Prosecution Agreement; (10) our ability to maintain quality control over our vehicles and avoid recalls and the cost and effect on our reputation and products; (11) the ability of suppliers to deliver parts, systems and components without disruption and on schedule; (12) our dependence on our manufacturing facilities; (13) our ability to realize production efficiencies and cost reductions; (14) our ability to successfully restructure operations in various countries; (15) our ability to manage risks related to security breaches and other disruptions to vehicles, information technology networks and systems; (16) our ability to develop captive financing capability through GM Financial; (17) significant increases in pension expense or projected pension contributions; (18) significant changes in the economic, political, and regulatory environment, market conditions, and foreign currency exchange rates; and (19) uncertainties associated with the consummation of the sale of GM Financial's European financing subsidiaries and branches to the Groupe PSA, including satisfaction of the closing conditions. A further list and description of these risks, uncertainties and other factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and our subsequent filings with the Securities and Exchange Commission. GM cautions readers not to place undue reliance on forward-looking statements. GM undertakes no obligation to update publicly or otherwise revise any forward-looking statements.
SOURCE General Motors